Air Based Defense Equipment Global Market Report 2024

The air based defense equipment market size has grown strongly in recent years. It will grow from $219.61 billion in 2023 to $237.41 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth observed in the historical period can be ascribed to factors including budget allocations, export opportunities, technological advancements, and geopolitical tensions.

The air based defense equipment market size is expected to see strong growth in the next few years. It will grow to $302.47 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. Anticipated growth in the forecast period can be attributed to factors such as budget priorities, modernization and upgrades, cybersecurity and developments in the space domain, as well as regional considerations. Notable trends expected in the forecast period encompass the adoption of electrification and lightweighting technologies, advanced materials, additive manufacturing, digitalization and connectivity, and an emphasis on fostering collaboration and partnerships within the industry.

In the forecast period, the air-based defense market is expected to experience innovation driven by rapid advancements in wireless technology and the trend towards miniaturization, which involves designing smaller equipment components. Additionally, manufacturing processes are benefiting from technologies such as 3D printing, artificial intelligence, and big data analytics, resulting in increased productivity, reduced operating costs, and improved profit margins. Lower operating costs ultimately lead to higher margins, enabling companies to expand production capabilities and diversify their product portfolios, contributing to the historical period's growth of the air-based defense equipment market.

Key categories of air-based defense equipment comprise fighter aircraft, military helicopters, military gliders, and drones. Fighter aircraft are fixed-wing planes engineered for air-to-air combat engagements with other aircraft. Operations can be either autonomous or manual, and these systems incorporate various components such as weapon systems, fire control systems, command and control systems, and other essential elements.

The air-based defense equipment market research report is one of a series of new reports that provides air-based defense equipment market statistics, including air-based defense equipment industry global market size, regional shares, competitors with an air-based defense equipment market share, detailed air-based defense equipment market segments, market trends and opportunities, and any further data you may need to thrive in the air-based defense equipment industry. This air-based defense equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

The growth of the air-based defense market is anticipated to be propelled by the rising frequency of aerial attacks in the coming period. Aerial attacks involve deliberate acts of violence aimed at causing harm or damage from the air. Air-based defense equipment plays a vital role in countering these aerial attacks, utilizing fighter aircraft to intercept and neutralize enemy aircraft. These systems can be deployed from terrestrial bases or from ships in maritime settings, with the purpose of identifying and neutralizing aircraft and other potential threats. For instance, in January 2023, as reported by the Armed Conflict Location and Event Data Project (ACLED), a US-based non-governmental organization specializing in comprehensive conflict data collection, there was a notable increase in Houthi cross-border aerial attacks throughout 2021, including a 377% rise in drone events, a 153% increase in missile events, and a 56% uptick in combined attacks. Houthi refers to a substantial clan originating from Yemen's northwestern Saada province. Consequently, the escalating incidents of aerial attacks are a key driver behind the growth of the air-based defense market.

The air-based defense equipment market is negatively impacted by uncertainties surrounding government stability and policies, particularly in relation to the import of essential raw materials for manufacturing aircraft components. These uncertainties, often exacerbated by the cancellation of trade agreements, lead companies to either reduce their import volumes to maintain previous expenditure levels or raise the prices of finished products due to increased production costs. For instance, the US withdrawal from the Trans-Pacific Partnership (TPP) trade deal and the imposition of $250 billion in tariffs on imported goods from China by the US government, aimed at safeguarding the US steel industry, have resulted in elevated costs for both defense and commercial aircraft parts. As a result, these challenges are impeding the growth of the air-based defense equipment market.

Companies in the air-based defense equipment manufacturing sector are increasingly employing 3D printing technology to fabricate lightweight structures and non-structural components for military aircraft. This technology enables the construction of three-dimensional objects from digital models by depositing successive layers of material. In air-based equipment manufacturing, 3D printing is leveraged to rapidly and cost-effectively produce military aircraft parts with intricate geometries. The technology allows for the creation of three-dimensional models of aircraft components using various materials, including metals, plastics, polymers, ceramics, and their derivatives. For instance, in March 2021, Saab AB, a Sweden-based aerospace and defense company, achieved a significant milestone by successfully testing the first external, as opposed to internal, 3D-printed part on a Gripen aircraft. They manufactured a replacement hatch for the Gripen using additive manufacturing and a nylon polymer called PA2200. This breakthrough has the potential to facilitate swift repairs to fighter aircraft damaged during remote operations, providing a valuable advantage in terms of time-saving and operational efficiency.

Prominent companies operating within the air-based defense market are placing a strong emphasis on the introduction of portable drone defense solutions as a strategic move to enhance their competitive advantage. These portable solutions are specifically designed to detect, track, identify, and, in certain cases, mitigate the presence of unauthorized unmanned aerial vehicles (UAVs) across various environments. For instance, in October 2022, Dedrone Holdings, a US-based developer specializing in counter-drone and counter-unmanned aerial system technology, unveiled DedronePortable. This innovative solution is a handheld, all-in-one system that provides comprehensive drone detection, tracking, and identification (DTI) capabilities. DedronePortable is a portable device that can be deployed in the field in under 20 minutes and incorporates Dedrone's advanced machine learning technology, along with end-to-end countermeasures. The system includes all essential components, such as sensors, a power source, cables, a rugged laptop pre-loaded with the DedroneTracker and the DedroneDNA database, packaged in kits that are easy to transport and assemble, making it a valuable addition to the market.

Major companies operating in the air based defense equipment market include Lockheed Martin Corporation, Airbus Group SE, The Boeing Company, Leonardo SpA, Bae Systems PLC, Raytheon Technologies Corporation, Honeywell International Inc., Northrop Grumman Corp, Rostec State Corporation, Textron Inc., Aviation Industry Corporation of China Ltd., General Dynamics Corp, Thales SA, Almaz Antey Corporation, Safran S.A., PJSC United Aircraft Corporation, Mitsubishi Heavy Industries Ltd., United Shipbuilding Corporation, JSC Tactical Missiles Corporation, Rafael Advanced Defense Systems Ltd., Israel Aerospace Industries Ltd., Bharat Electronics Ltd., Hindustan Aeronautics Ltd., Larsen & Toubro Ltd., JSC Rosoboronexport Ltd., Sukhoi Aviation Corporation, ANTK imeni A.N. Tupoleva, Brazilian multinational aerospace corporation, GE Aviation Systems Ltd., Pratt & Whitney Aircraft Company.

Asia-Pacific was the largest region in the air-based defense equipment market in 2023. Western Europe is expected to be the fastest growing region in the forecast period. The regions covered in the air-based defense equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the air-based defense equipment market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa

The air-based defense equipment market consists of sales of air-based defense equipment including radar, satellites, sonars, and aircraft. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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